CIBC World keeps its sector perform rating on Research In Motion (RIMM).
Analyst Dale Pfau says the agreement to settle litigation with Good Technology clearly shows that patents held by RIMM are valid. While this doesn't prevent Good Technology from selling its products, Pfau believes the agreement puts Good at a disadvantage on a cost basis.
Pfau doesn't think the agreement will have meaningful impact on RIMM's model, but he continues to believe that the fundamental outlook is improving, with the potential for upside to his $115 price target. He sees 95 cents fiscal 2004 (Feb.) earnings per share, and $2.74 in fiscal 2005.